TD Cowen Has Lowered Expectations for Colgate-Palmolive (NYSE:CL) Stock Price

Colgate-Palmolive (NYSE:CL) had its target price reduced by TD Cowen from $90.00 to $86.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 5.61% from the company’s previous close.

CL has been the topic of several other reports. Deutsche Bank Aktiengesellschaft set a $86.00 price target on shares of Colgate-Palmolive in a research note on Friday, October 10th. Morgan Stanley decreased their price objective on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday, November 3rd. Barclays dropped their target price on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 4th. Argus reiterated a “hold” rating on shares of Colgate-Palmolive in a report on Thursday, December 11th. Finally, Piper Sandler set a $88.00 price objective on Colgate-Palmolive and gave the stock an “overweight” rating in a research report on Tuesday. Eleven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $88.19.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $81.44 on Thursday. Colgate-Palmolive has a 52 week low of $74.54 and a 52 week high of $100.18. The stock has a market capitalization of $65.64 billion, a PE ratio of 22.81, a PEG ratio of 5.48 and a beta of 0.30. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93. The stock’s fifty day moving average is $78.71 and its 200-day moving average is $81.99.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.17 billion. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. Equities research analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CL. Cidel Asset Management Inc. increased its position in shares of Colgate-Palmolive by 13.6% during the second quarter. Cidel Asset Management Inc. now owns 329,060 shares of the company’s stock worth $29,912,000 after acquiring an additional 39,413 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in Colgate-Palmolive by 3.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock valued at $33,758,000 after acquiring an additional 16,017 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Colgate-Palmolive by 18.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 30,273 shares of the company’s stock worth $2,752,000 after purchasing an additional 4,738 shares during the period. Vanguard Group Inc. increased its holdings in Colgate-Palmolive by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock worth $7,522,129,000 after purchasing an additional 993,432 shares in the last quarter. Finally, Welch Group LLC raised its stake in shares of Colgate-Palmolive by 1.5% in the 2nd quarter. Welch Group LLC now owns 665,041 shares of the company’s stock valued at $60,452,000 after purchasing an additional 9,689 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.